In a major boost to 63 moons technologies, which had filed a petition in the National Company Law Appellate Tribunal (NCLAT) against Piramal ascribing Re 1 value to Rs 40,000 crore worth of recoverable assets in the DHFL case, the NCLAT on Thursday ordered the petition to be considered by the Committee of Creditors (CoC).

In a statement, 63 moons technologies said with this order, the CoC has to reconsider the provision of section 66 of IBC, which mandates that the benefit should go to all the creditors of DHFL.

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However, in its resolution plan, the CoC had overlooked this provision to the benefit of the Piramal Group. The 63 moons, which hold non-con vertible debentures (NCDs) worth over Rs 200 crore issued by DHFL, had challenged the NCLAT’s judgement on the grounds that the current resolution plan was “disappointing” for NCD holders.

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